SoFi Member Investor Profiles: ‘The More You Save, the More Your Money Can Grow’

SoFi Member Aaron Carreno had a really ambitious goal when he started investing: to save two full years’ worth of retirement income by the time he reached 35. To get there, Aaron, a project manager in Madison, WI, not only had to teach himself how to invest — but how to be a mad saver.

Aaron’s Investing Story

Even more important, Aaron recognized that when you’re focused on a goal that matters to you, it makes sense to explore a range of investing tools and apps (technology just keeps getting smarter), and loop in a specialist when you need one. Here’s how Aaron got on track to reach his goals.

It started with a windfall.

I made my first investment when I got some extra money from a family inheritance. This was years ago, but I knew I wanted to get a start on my retirement. Since this was money I didn’t have to touch, I decided to invest in my future.

When you have a big goal, get help.

It can sometimes be tricky to pick investments, so I lean on financial advisors to help guide me through the process. It makes a big difference.

Learn from other people’s big wins.

When my dad showed me how his investments had grown over time, that really got me inspired. Thanks to him, I started learning on my own.

Be disciplined about saving.

One of the best pieces of advice I got was to save at least 15% of my paycheck. You won’t regret it. Why? Compound interest! The more you invest, the more your money can grow — and you see how it helps your goals.

Set yourself up for a healthy retirement.

I also contribute to my retirement plan at work. With that account, I set it up so I’d get the match from my employer. Also, I set up annual contribution increases, so I’m saving more every year automatically. I don’t even have to think about it.

Watch out for fees.

There are no SoFi management fees, but there can be fees associated with different investments and different kinds of accounts. Always make sure you’re paying as little as possible, so you can keep more of what you earn.

I’m proud of what I’ve achieved.

By age 35, my goal was to hit an amount that’s twice the annual income I’m hoping for in retirement. I’ve succeeded!

Last thought…

If you haven’t started investing yet, start now!

The Takeaway

No matter what your financial plan is, or what goals you’re setting for yourself, take a minute to step back and look around at all your options. As Aaron can tell you, the days when investors had to figure everything out on their own are over. Technology is on your side. And so is making progress the old-fashioned way: by embracing good habits like saving regularly (and setting up automatic savings increases to your 401(k) account).

Put yourself on the path to success by opening a SoFi Invest® account, getting complimentary financial planning advice, and learning about different tools and investments that can help you achieve your aims.

Learn More

SoFi Member responses are from the SoFi Ambassador survey, conducted in July 2021. All responses are published with the permission of the SoFi Member, and have been edited for grammar and clarity by SoFi editors. SoFi Ambassadors earn rewards for participating in the Ambassador Program.

SoFi Invest®
SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below: Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA ( Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.

Advisory services are offered through SoFi Wealth, LLC an SEC-registered Investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at
Fund Fees
If you invest in Exchange Traded Funds (ETFs) through SoFi Invest (either by buying them yourself or via investing in SoFi Invest’s automated investments, formerly SoFi Wealth), these funds will have their own management fees. These fees are not paid directly by you, but rather by the fund itself. these fees do reduce the fund’s returns. Check out each fund’s prospectus for details. SoFi Invest does not receive sales commissions, 12b-1 fees, or other fees from ETFs for investing such funds on behalf of advisory clients, though if SoFi Invest creates its own funds, it could earn management fees there.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit Want an easy and convenient way to manage your financial life? Get the SoFi app. For iOS and Android.

TLS 1.2 Encrypted
Equal Housing Lender